Live Stock Coverage: Could South Jersey Industries Inc See a Reversal After Breaking Its 52-Week High?

November 28, 2016November 28, 2016Richard Conner

The stock of South Jersey Industries Inc (NYSE:SJI) hit a new 52-week high and has $36.63 target or 9.00% above today’s $33.61 share price. The 8 months bullish chart indicates low risk for the $2.72 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $36.63 price target is reached, the company will be worth $244.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.31% or $0.76 on November 28, hitting $33.61. About 379,574 shares traded hands or 21.32% up from the average. South Jersey Industries Inc (NYSE:SJI) has risen 17.74% since April 25, 2016 and is uptrending. It has outperformed by 11.73% the S&P500.

Analysts await South Jersey Industries Inc (NYSE:SJI) to report earnings on March, 6. They expect $0.46 earnings per share, down 25.81% or $0.16 from last year’s $0.62 per share. SJI’s profit will be $37.23M for 18.27 P/E if the $0.46 EPS becomes a reality. After $0.05 actual earnings per share reported by South Jersey Industries Inc for the previous quarter, Wall Street now forecasts 820.00% EPS growth.

South Jersey Industries Inc (NYSE:SJI) Ratings Coverage

Out of 6 analysts covering South Jersey Industries (NYSE:SJI), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. South Jersey Industries has been the topic of 10 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock of South Jersey Industries Inc (NYSE:SJI) earned “Neutral” rating by Hilliard Lyons on Wednesday, December 9. The rating was downgraded by Janney Capital on Tuesday, June 28 to “Neutral”. Hilliard Lyons upgraded the stock to “Underperform” rating in Monday, August 10 report. The firm has “Underperform” rating by Hilliard Lyons given on Friday, November 6. The firm has “Buy” rating given on Monday, May 16 by Guggenheim. The stock of South Jersey Industries Inc (NYSE:SJI) has “Neutral” rating given on Tuesday, June 14 by JP Morgan. Williams Capital Group downgraded the stock to “Hold” rating in Wednesday, November 23 report. The firm earned “Equal-Weight” rating on Thursday, September 8 by Morgan Stanley.

According to Zacks Investment Research, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas.”

Insitutional Activity: The institutional sentiment decreased to 1.06 in Q2 2016. Its down 0.99, from 2.05 in 2016Q1. The ratio worsened, as 20 funds sold all South Jersey Industries Inc shares owned while 37 reduced positions. 30 funds bought stakes while 87 increased positions. They now own 53.65 million shares or 12.60% more from 47.65 million shares in 2016Q1.
Aperio Limited Liability last reported 0.01% of its portfolio in the stock. Ameriprise Financial Inc accumulated 1.65 million shares or 0.03% of the stock. The New York-based State Common Retirement Fund has invested 0.02% in South Jersey Industries Inc (NYSE:SJI). Checchi Cap Advisers Limited Liability Company holds 0% or 77 shares in its portfolio. Principal Grp Inc holds 570,084 shares or 0.03% of its portfolio. Bancorporation Of America De last reported 0% of its portfolio in the stock. First Mercantile holds 2,130 shares or 0.01% of its portfolio. Peoples Fincl reported 2,102 shares or 0.04% of all its holdings. Blackrock Fund Advisors accumulated 0.04% or 5.36M shares. Earnest Prtn Ltd Liability Corporation has invested 0.75% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Swiss National Bank has invested 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Victory Capital, a Ohio-based fund reported 1.22M shares. Duncker Streett Inc has invested 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Moreover, Next Fincl Grp Inc has 0.01% invested in South Jersey Industries Inc (NYSE:SJI) for 1,375 shares. Guggenheim Cap Ltd Liability Corp holds 0.01% or 69,788 shares in its portfolio.

More important recent South Jersey Industries Inc (NYSE:SJI) news were published by: Marketwatch.com which released: “South Jersey Industries downgraded to hold from buy at Williams Capital” on October 25, 2010, also Forbes.com published article titled: “Ex-Dividend Reminder: Best Buy, South Jersey Industries and Fidelity National …”, Fool.com published: “Why Shake Shack, Globalstar, and South Jersey Industries Jumped Today” on May 13, 2016. More interesting news about South Jersey Industries Inc (NYSE:SJI) was released by: Fool.com and their article: “South Jersey Industries Suffers a Loss, but Keeps Confident” with publication date: November 08, 2015.

SJI Company Profile

South Jersey Industries, Inc. (SJI), incorporated in 1969, is an energy services holding company. The Firm provides a range of energy-related services and products, primarily through its subsidiaries. The Company’s subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC.